Author: Korir Issa

Majid Al Futtaim, Carrefour’s exclusive franchisee in Kenya, has opened its 29th store at Sea Angel Mall on Jomo Kenyatta Avenue, in Mombasa’s Central Business District.  This milestone introduces Carrefour’s first 24-hour outlet in Mombasa CBD, offering round-the-clock grocery access for residents, commuters, and travellers in a high-traffic area.  Carrefour now operates four stores in Kenya’s coastal region, including Promenade Mall, City Mall, and Diani Mall, reinforcing its commitment to economic growth and community development.  “Our goal is to create ‘Great Moments for Everyone, Every Day’ by delivering convenient, enjoyable shopping experiences centered on quality, affordability, and shared value,” said…

Standard Chartered Bank Kenya Plc reported a 13.5% decline in net profit to KSh 4.86 billion for the first quarter of 2025, marking its first earnings contraction in recent years. This dip follows KSh 5.61 billion in profit after tax recorded during the same period in 2024. The primary driver for the profit reduction was a significant 59.1% plunge in forex trading income, which negatively impacted overall non-interest revenue. Total operating income consequently fell by 11.2% to KSh 11.60 billion, reversing the double-digit growth over the past two years. While net interest income remained relatively steady at KSh 8.21 billion,…

Safaricom has enhanced credit solutions to support micro, small, and medium enterprises (MSMEs) across Kenya, reinforcing its commitment to financial inclusion. Key Offerings Taasi Till: A short-term business credit facility offering loans from Ksh 1,500 up to Ksh 250,000, depending on eligibility. Fuliza Biashara: An overdraft facility for Lipa na M-PESA merchants, allowing multiple overdrafts ranging from Ksh 1,000 to Ksh 400,000 based on assigned limits. Repayments are now flexible and automatically recovered when there are inflows on the till, ensuring business continuity. Taasi Pochi: Credit from Ksh 1,000 to Ksh 250,000 available instantly on Pochi la Biashara wallets via…

Choice Microfinance Bank, now rebranded as Choice Bank, has launched a pioneering, inclusive, and purpose-driven digital banking model, reaffirming its commitment to transforming financial services in Kenya. The announcement, made during a vibrant ceremony in Nairobi on May 19, 2025, coincided with the bank’s 10th anniversary since its licensing by the Central Bank of Kenya (CBK) in May 2015. A Decade of Impact and a Bold Digital Leap The rebranding event, attended by Kiprono Kittony, Chair of the Nairobi Securities Exchange, as Chief Guest, highlighted Choice Bank’s evolution from a community-based microfinance institution in Kajiado County to a nationally licensed…

The Competition Authority of Kenya (CAK) has granted unconditional approval for the proposed acquisition of 100% of the shareholding in Pollman’s Tours and Safaris Limited by Africa Travel Investments, a company incorporated in Europe. Pollman’s Tours and Safaris Limited, established in Kenya in 1950, is a long-standing provider of guided safaris and travel packages, catering to travel agents and tour operators globally. According to a statement released by the CAK, the proposed transaction qualifies as a merger under the provisions of the Competition Act Cap 504 of the Laws of Kenya. The Authority noted that Africa Travel Investments aims to…

The Kisumu County Government, under Governor Anyang’ Nyong’o, is opposing the national government’s plan to lease Chemelil and Muhoroni sugar mills, arguing that it violates legal standards and risks monopolisation, which could harm farmers and public assets. The Ministry of Agriculture intends to lease Chemelil Sugar Factory to Kibos Sugar and Allied Industries Ltd. and Muhoroni Sugar Company to West Valley Sugar Company, each for 30 years. Nyong’o criticised the lack of public consultation, stating, “This ill-conceived leasing agenda is not just illegal; it is a threat to land rights, community cohesion, and the future of the sugar industry in…